iRobot (NASDAQ:IRBT) Releases Earnings Results, Beats Expectations By $0.32 EPS


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iRobot (NASDAQ:IRBT) announced its earnings results on Sunday. The industrial products company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.32, MarketWatch Earnings reports. iRobot had a net margin of 11.72% and a return on equity of 13.69%. The firm had revenue of $303.26 million for the quarter, compared to analysts’ expectations of $268.04 million. During the same quarter in the previous year, the business posted ($0.32) EPS. The company’s quarterly revenue was up 57.5% on a year-over-year basis.

NASDAQ:IRBT traded down $7.79 during mid-day trading on Tuesday, reaching $96.17. The company’s stock had a trading volume of 3,058,646 shares, compared to its average volume of 958,410. iRobot has a 12-month low of $58.68 and a 12-month high of $197.40. The firm’s fifty day moving average price is $116.43 and its two-hundred day moving average price is $100.63. The stock has a market cap of $2.73 billion, a P/E ratio of 17.81, a PEG ratio of 3.15 and a beta of 1.48.

In related news, EVP Russell J. Campanello sold 10,686 shares of the stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $122.80, for a total value of $1,312,240.80. Following the completion of the sale, the executive vice president now directly owns 46,814 shares of the company’s stock, valued at approximately $5,748,759.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elisha W. Finney sold 480 shares of the stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $120.00, for a total transaction of $57,600.00. Following the completion of the sale, the director now directly owns 7,796 shares of the company’s stock, valued at $935,520. The disclosure for this sale can be found here. Insiders have sold a total of 12,539 shares of company stock valued at $1,541,466 in the last ninety days. Insiders own 2.91% of the company’s stock.

A number of brokerages have recently commented on IRBT. Northland Securities boosted their target price on shares of iRobot from $120.00 to $140.00 in a report on Friday, February 12th. Citigroup upped their price target on shares of iRobot from $95.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, February 12th. JPMorgan Chase & Co. upgraded shares of iRobot from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $101.00 to $166.00 in a research note on Thursday, February 11th. Zacks Investment Research cut shares of iRobot from a “strong-buy” rating to a “hold” rating and set a $119.00 price target on the stock. in a research note on Tuesday, April 13th. Finally, Raymond James cut shares of iRobot from an “outperform” rating to a “market perform” rating in a research note on Monday, January 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $111.00.

About iRobot

iRobot Corporation designs, builds, and sells robots in the United States, Europe, the Middle East, Africa, Japan, and internationally. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Root robots to help children learn how to code. The company sells its products through distributor and retail sales channels, as well as through online stores and resellers.

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Earnings History for iRobot (NASDAQ:IRBT)

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